RCG Direct Broker Review
RCG actually stands for Rosenthal Collins Group, which is a brokerage firm offering futures trading, that’s located in Chicago. Its services are available for individual investors, professional traders, institutions, and Introducing Brokers (IB). It may possibly be one of the oldest fIrms still operating, as it was originally established in 1923. Back then it was known as Greene and Collins, but today it is possibly one of the largest futures commission merchants still independently owned. With more than 35,000 customer accounts and relationships with 150 brokers all around the world, RCG has developed a global presence that is more than evident across not just Northern America, but Europe, Asia, the Middle East, India, Africa and South America.
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RCG Direct brokers offer the opportunity to trade almost anything you can think of
Nowadays, there are endless possibilities when it comes to trading. Almost anything you can think of is traded via the commodity futures market. And Rosenthal Collins Group are offering a large number of them for their investors. Crude oil, currencies, and precious metals are some of the better known commodities, but there is also soybeans, corn, gasoline, heating oil, coffee, cotton, and cocoa. RCG also offers traders the opportunity to trade one of the oldest financial futures, the US Treasury bond.
RCG Direct have decided not to stick with MT4
MetaTrader 4 has become such a popular trading platform, that there aren’t too many brokers who decide to use something different. But RCG Direct is one of them, and actually has quite a range of trading platforms available. In fact, there are so many of them we really don’t have the space to do much more than give you a list. So here goes:
- RCG Onyx Plus
- CGQ Trader
- CGQ QTrader
- CGQ Integrated Client
- CTS T4
- RCG Onyx Plus WebTrader
- TTX_Trader Pro
- Pats J-Trader
With so many platforms to choose from there should be something to suit anyone reading this RCG Direct brokers review.
Opening an account shouldn’t take more than 10 minutes
There are four different types of account with RCG Direct, and the account opening process is guaranteed not to take more than approximately 10 minutes. There are 4 different accounts to choose from, which are an individual or joint account, a corporate account, a Partnership/LLC account, or a trust account. So, it really depends on what type of trader you fall into. Next step is to create a log, and gather together all the information you’ll need to complete the application. This will include such things as your driver’s license, bank account names and numbers, and any other brokerage relationships you may currently have. An electronic signature is used to complete the application, and all that has to be done then is for it all to be submitted.
Minimum account size is $5,000 USD, and we considered the spread level to be pretty high. For example, currently 2-3 pips on EUR/USD, but it does vary. Leverage is 100:1, which is very reasonable, but that’s only to be expected with such a large minimum deposit. And it’s pretty obvious, Rosenthal Collins Group LLC, are aiming its services at the more serious and experienced investor. Rather than the complete beginner, or traders whose finances are limited.
We should also mention there is a free demo account, but it is time-limited. The trading platform RCG Onyx Plus has a two week trial demo account available.
What other services does RCG Direct offer?
Customers who choose RCG Direct are able to take advantage of a number of other services aside from Forex trading, many of which are customised, such as online account management and market commentary. Let’s look at a few of the other services currently available:
Trade execution – RCG Direct provides clients with access to more than two dozen major futures exchanges, including those in Europe, Asia, and the Americas, and the execution team is available 24 hours a day during the normal trading week
Clearing – RCG Direct is a clearing member at some of the largest futures exchanges in Europe and the US, promising meticulous attention to detail in all aspects of their clearing service
Introducing Broker services – RCG Direct supports Introducing Brokers with a wide range of services, to help them develop and grow their business
Account management – RCG Passport and RCG Archive allow clients to access their account information online, with up-to-date details of your latest trades, within minutes of them happening
Risk management – Rosenthal Collins Group are transparent in all their dealings, posting daily updates on their website for customers to review
Managed futures – Provided by professional money managers, there is something to suit every kind of trader
Market commentary – With the help of some of the best minds in the business, investors will be able to understand underlying market fundamentals and technical conditions.